1. The common stock of the foreign subsidiary owned by WHO has a historic value of $335,000....
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Question:
1.
The common stock of the foreign subsidiary owned by WHO has a historic value of $335,000. A recent appraisal of the stock by an independent firm estimates its current value at 12/31/19 is $375,000. What amount should be used in the consolidated worksheet at 12/31/19
| Translation method | Re-Measurement Method | |
| A | $335,000 | $375,000 |
| B | $375,000 | $335,000 |
| C | $335,000 | $335,000 |
| D | $375,000 | $375,000 |
2.
The assets listed below of a foreign subsidiary have been converted to U.S. dollars at both current and historical exchange rates. Assuming that the local currency of the foreign subsidiary is the functional currency, what total amount should appear for these assets on the U.S. Company's consolidated balance sheet?
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